Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a pharmacy business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of pharmacy that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to medication, will you offer items such as personal health supplies, vitamins, cosmetics, and/or food items?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the product categories you offer and their price ranges.
Place: Place refers to the location of your pharmacy. Document your location and mention how the location will impact your success. For example, is your pharmacy located next to a clinic, hospital, or high-traffic retail area, etc. Discuss how your location might provide a steady stream of customers.
Promotions: the final part of your pharmacy marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Making your pharmacy’s storefront extra appealing to attract passing customers
- Advertising in local papers and magazines
- Social media marketing
- Online advertising
- Partnerships with local organizations (e.g., local physicians, or medical groups)
- Local radio advertising
- Banner ads at local venues